Public adjusters are required by the Iowa Insurance Division to obtain a license and surety bond before insurance services may be provided to the public.
Jet Insurance Company provides the $20,000 Public Adjuster Bond to act as financial protection to the state’s residents in cases where the adjuster fails to comply with license regulations and/or contractual obligations.
The Iowa Public Adjuster Bond may be purchased for as little as $10 a month!
With Jet, prices for the Iowa Public Adjuster Bond are a small fraction of the $20,000 limit and are based on a soft credit check of the applicant. For example, rates start at just $100 for a one-year bond term or a simple payment of $10 a month.
In addition, Jet offers multi-year options. Take a look at the price chart below for further details.
According to the Insurance Division, public adjuster licenses are issued for two-year terms. Because of this, Jet provides a convenient two-year bond term to all applicants. To get started with your purchase, select the “View Your Bond Price” button at the top of the page.
The Iowa Insurance Division is responsible for the management and regulation of the insurance industry. To ensure that Iowa residents are protected from unfair business practices and/or wrongful damages, some form of financial security is typically required of licensees, like a surety bond.
Once licensed, public adjusters must follow all rules pursuant to Chapter 55 of the Iowa Administrative Code, as well as uphold the obligations of their customer contracts. If a violation occurs such as negligence, unethical or deceptive conduct, fraud, and/or a breach of contract, funds from the Public Adjuster Bond may act as a means of restitution to the damaged party, whether that be the Insurance Division themselves or a policyholder of the public adjuster in question.
Jet’s application is swift and easy! To begin, some general information will be needed such as your contact details and social security number. No need to worry though—Jet only runs a soft credit check, therefore, it won’t have an impact on your actual score.
Once your application has been reviewed, a Jet underwriter will send you approved rate options that are available for immediate purchase. Simply choose the best payment plan for you and complete the purchase. You’ll receive a copy of your receipt and bond form as soon as this last step has been fulfilled.
A copy of the signed and sealed Public Adjuster Bond form, along with any other completed paperwork must be submitted via the NIPR Online System. For further details on the application process, check out either the Obtaining a New License webpage or the Renewing a License webpage.
The Iowa Insurance Division mailing address and contact information have also been provided by the Jet team for your convenience. See below.
Iowa Insurance Division
1963 Bell Avenue, Suite 100
Des Moines, IA 50315